The EU's goal of doing away with budget deficits by 2004 is in jeopardy

BUDGET DEFICIT AS SHARE OF GROSS DOMESTIC PRODUCT 2001 2002* 2003*

FRANCE -1.5% -2.0% -1.8% GERMANY -2.7 -2.8 -2.1 ITALY -1.4 -1.3 -1.3 EURO ZONE 12 -1.3 -1.5 -1.2

* Forecast

Data: European Commission

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